NIO (NYSE:NIO – Get Free Report) was downgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued to investors on Friday, Briefing.com reports. They currently have a $5.00 price target on the stock, down from their previous price target of $8.50. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 14.53% from the company’s previous close.
A number of other research firms have also weighed in on NIO. Bank of America lowered NIO from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 9th. Mizuho decreased their price target on NIO from $18.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, December 6th. Finally, The Goldman Sachs Group started coverage on shares of NIO in a research note on Wednesday, January 3rd. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.25.
Read Our Latest Analysis on NIO
NIO Price Performance
Shares of NYSE NIO opened at $5.85 on Friday. NIO has a 52 week low of $5.30 and a 52 week high of $16.18. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 0.76. The firm has a market cap of $10.06 billion, a P/E ratio of -3.23 and a beta of 1.98. The business’s 50 day moving average price is $6.99 and its 200 day moving average price is $8.31.
NIO (NYSE:NIO – Get Free Report) last released its quarterly earnings data on Tuesday, December 5th. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.06. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.63 billion. NIO had a negative net margin of 39.26% and a negative return on equity of 114.38%. On average, sell-side analysts expect that NIO will post -1.65 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its position in shares of NIO by 4.7% in the second quarter. Captrust Financial Advisors now owns 12,195 shares of the company’s stock valued at $265,000 after buying an additional 546 shares during the last quarter. Wetherby Asset Management Inc. raised its stake in NIO by 4.5% during the first quarter. Wetherby Asset Management Inc. now owns 16,714 shares of the company’s stock worth $352,000 after purchasing an additional 717 shares during the period. Parallel Advisors LLC grew its stake in shares of NIO by 30.8% in the 2nd quarter. Parallel Advisors LLC now owns 3,453 shares of the company’s stock valued at $33,000 after buying an additional 814 shares during the period. Wahed Invest LLC lifted its holdings in NIO by 10.0% in the second quarter. Wahed Invest LLC now owns 9,339 shares of the company’s stock valued at $90,000 after acquiring an additional 848 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in NIO by 2.6% during the second quarter. Cetera Investment Advisers now owns 38,271 shares of the company’s stock worth $371,000 after acquiring an additional 987 shares during the last quarter. Hedge funds and other institutional investors own 42.32% of the company’s stock.
NIO Company Profile
NIO Inc designs, manufactures, and sells electric vehicles in the People’s Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider NIO, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and NIO wasn’t on the list.
While NIO currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You’d need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Source: marketbeat.com
